Sharjah, Italy sign pact to expand bilateral investment prospects

SHARJAH / WAM

The Sharjah FDI Office, known as Invest in Sharjah, has inked a Memorandum of Understanding (MoU) with the Italian Trade Commission (ITC) to expand bilateral investment prospects between Sharjah and Italy.
Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, and Stefano Nigro, Director of the Foreign Investment Department at the ITC, signed the MoU.
The new agreement will boost investment in Sharjah, as the partnership will enable the growth of several Italian registered businesses in the emirate, estimated to be 260 in 2018, to-date.
Invest in Sharjah and ITC will lead bilateral developments between Sharjah and Italy across numerous sectors, including mergers, acquisitions and alliances, brown and green field construction projects, bilateral real-estate investments, as well as venture capital and startups.
Commenting on the agreement, Al Musharrkh said, “We are returning to Italy for the second time, following our remarkable visit to the great city of Padua last April. The new MoU with ITC will not only boost foreign direct investment markets for both parties, but will expand on new business opportunities and pros-pects that offer investment options for Italian investors
in Sharjah.”
“We share a long and strong relationship with ITC, especially while servicing Italian investors in Sharjah, and the new MoU will surely expand on this business venture.”
“We will also use this opportunity to upsell our streamlined services among Italian investors and government
entities in Sharjah, which is dedicated to working efficiently and effectively to service investors all over the world,” he added.